Gold is likely to face further downside pressure, especially if the dollar continues to firm, Howie Lee, Economist at OCBC Bank, reports. XAU/USD has started the week trading listless around $1860. Key quotes “Gold broke below $1900/oz last week and bulls have not shown any inclination to buy on dips despite prices being at a two-month low.” “With the dollar expected to continue strengthening in the current risk-off environment, the inverse correlation between gold and the dollar may push gold further down in the immediate future.” “Longer-term,we remain bullish on gold.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Top 3 Price Prediction Bitcoin, Ethereum and XRP: Rejection opens the Pandora box FX Street 2 years Gold is likely to face further downside pressure, especially if the dollar continues to firm, Howie Lee, Economist at OCBC Bank, reports. XAU/USD has started the week trading listless around $1860. Key quotes “Gold broke below $1900/oz last week and bulls have not shown any inclination to buy on dips despite prices being at a two-month low.” “With the dollar expected to continue strengthening in the current risk-off environment, the inverse correlation between gold and the dollar may push gold further down in the immediate future.” “Longer-term,we remain bullish on gold.” Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
